Gold

Bitcoin

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Gold bug and economist <a href="https://twitter.com/PeterSchiff/status/1777330162717052961" rel="noopener noreferrer nofollow">Peter Schiff</a> has poured cold water on Bitcoin's price jump, issuing a comment on X in this vein.
<a href="https://u.today/bitcoin-to-94000-peter-schiff-unknowingly-predicts-while-poking-btc" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a>, the largest cryptocurrency by market cap, surpassed $72,000 for the first time since mid-March as its halving event approached. The halving event, which reduces BTC mining rewards from 6.25 BTC to 3.125 BTC, is slated for April 20.
<blockquote>
 It looks like <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> got pump up overnight following the <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#gold</a> rally to new record highs, to sucker ETF investors into buying the gap up. Get ready for the dump.— Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1777330162717052961?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 8, 2024</a>
</blockquote>
As Bitcoin's price experiences a notable jump, the crypto community is abuzz with excitement and speculation.
However, Schiff has poured cold water on the BTC price rally, which he refers to as an overnight pump following the gold bounce to new record highs. He also claimed that the recent Bitcoin gain was caused by speculation, with ETF investors "buying the gap up."
Schiff, known for his outspoken criticism of Bitcoin and preference for traditional assets like gold, has long been a vocal critic of the leading cryptocurrency and, hence, his recent statement on the BTC price jump comes as no surprise.
Taking aim at Bitcoin buyers, Schiff wrote, "Get ready for the dump," warning of a price decline following the BTC surge.
Despite Schiff's "supposed" warning, many cryptocurrency supporters remain optimistic about the market's long-term potential.
Ripple CEO <a href="//u.today/ripple-ceo-makes-stunning-market-prediction" rel="noopener noreferrer nofollow">Brad Garlinghouse</a> predicts the total value of the cryptocurrency market to double this year, citing the launch of the first U.S. spot Bitcoin exchange-traded fund and the imminent bitcoin "halving."
Garlinghouse believes that positive regulatory momentum in the United States might also drive the crypto market to new highs. Bitcoin has increased by more than 140% in the last 12 months. On March 14, it reached a record high of $73,835 on Coinbase.

Peter Schiff Sends Warning to Bitcoin Investors: Details

U_Today

Other articles published on Apr 8, 2024

Bitcoin ETF Volume Surge Pre-Halving: Santiment Predicts Sustained Interest!

LUNC Price Prediction: Terra Luna Classic Price Can Hit $2 Before Bitcoin Halving?

El Salvador To Offer 5000 ‘Free Passports’ To Highly Skilled Professionals From Around The World:...

What Are The Projects That Will Distribute Airdrops And Launch Altcoins In The Coming Days? Here ...

The Cryptic Candle That Bitcoin Just Printed

420-Friendly Solana Meme Coin Slothana Raises $10 Million As ICO Clock Ticks Down

Join our free newsletter for daily crypto updates!